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Report No. : |
307256 |
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Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ENIMEX S.A.
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|
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Registered Office : |
Industrial
Area of Stavrochori, Postal Code: 61100, PO Box 20, Kilkis |
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Country : |
Greece |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
35283/062/B /96/67 |
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Legal Form : |
Public
Limited Company |
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Line of Business : |
Engaged in manufacturing, exclusive imports and wholesale trade of natural gas network equipment. |
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|
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No of Employees : |
35 (February 2015) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
|
Payment Behaviour : |
Delayed |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Greece |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Greece ECONOMIC OVERVIEW
Greece has a capitalist
economy with a public sector accounting for about 40% of GDP and with per
capita GDP about two-thirds that of the leading euro-zone economies. Tourism
provides 18% of GDP. Immigrants make up nearly one-fifth of the work force,
mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU
aid, equal to about 3.3% of annual GDP. The Greek economy averaged growth of
about 4% per year between 2003 and 2007, but the economy went into recession in
2009 as a result of the world financial crisis, tightening credit conditions,
and Athens' failure to address a growing budget deficit. By 2013 the economy
had contracted 26%, compared with the pre-crisis level of 2007. Greece met the
EU's Growth and Stability Pact budget deficit criterion of no more than 3% of
GDP in 2007-08, but violated it in 2009, with the deficit reaching 15% of GDP.
Austerity measures have reduced the deficit to about 4% in 2013, including
government debt payments. Deteriorating public finances, inaccurate and
misreported statistics, and consistent underperformance on reforms prompted
major credit rating agencies to downgrade Greece's international debt rating in
late 2009, and led the country into a financial crisis. Under intense pressure
from the EU and international market participants, the government adopted a
medium-term austerity program that includes cutting government spending,
decreasing tax evasion, overhauling the health-care and pension systems, and
reforming the labor and product markets. Athens, however, faces long-term
challenges to continue pushing through unpopular reforms in the face of
widespread unrest from the country's powerful labor unions and the general
public. In April 2010 a leading credit agency assigned Greek debt its lowest
possible credit rating; in May 2010, the International Monetary Fund and
Euro-Zone governments provided Greece emergency short- and medium-term loans
worth $147 billion so that the country could make debt repayments to creditors.
In exchange for the largest bailout ever assembled, the government announced
combined spending cuts and tax increases totaling $40 billion over three years,
on top of the tough austerity measures already taken. Greece, however,
struggled to meet 2010 targets set by the EU and the IMF, especially after
Eurostat - the EU's statistical office - revised upward Greece's deficit and
debt numbers for 2009 and 2010. European leaders and the IMF agreed in October
2011 to provide Athens a second bailout package of $169 billion. The second
deal however, called for holders of Greek government bonds to write down a
significant portion of their holdings. As Greek banks held a significant
portion of sovereign debt, the banking system was adversely affected by the
write down and €41 billion of the second bailout package was set aside to
ensure the banking system was adequately capitalized. In exchange for the
second loan Greece promised to introduce an additional $7.8 billion in
austerity measures during 2013-15. However, the massive austerity cuts have
prolonged Greece's economic recession and depressed tax revenues. Throughout
2013, Greece's lenders called on Athens to step up efforts to increase tax
collection, dismiss public servants, privatize public enterprises, and rein in
health spending. In June 2013 Prime Minister Antonis SAMARAS's efforts to meet
bailout conditions led to the departure of one party, the Democratic Left, from
the governing coalition when his government made the controversial decision to
shut down and restructure the state-owned television and radio company.
Subsequent reluctance to institute further cuts and delays in meeting public
sector reform targets prompted Greek lenders to withhold bailout fund
disbursements until December 2013. However, investor confidence began to show
signs of strengthening by the end of 2013 as leading macroeconomic indicators
suggested the economy’s freefall had been arrested.
|
Source : CIA |
|
Registered Name |
ENIMEX
S.A. |
|
Trade Name |
ENIMEX
S.A. |
|
Registered Address |
Industrial
Area of Stavrochori, Postal Code: 61100, PO Box: 20, Kilkis, Greece |
|
Telephone |
2341072162 |
|
Fax |
2341072065 |
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E-mail |
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|
Web Site |
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Status |
Registered
and operational |
|
Legal Type |
Public
Limited Company |
|
VAT Number |
094450300 |
|
Registration No |
35283/062/B
/96/67 Registration
Date 01/01/1996 |
|
Start Date |
01/01/1996 Years
of Operation 19 |
|
CINFO ID |
23390740 |
|
Employees |
Feb
2015 |
|
Total
Number |
35 |
|
SOL
Auditors SA |
|
|
Koutsoulentis
B. Theodoros |
|
Authorized Capital 0.00
EUR Asked 0.00
Nominal No Of Shares 0 Issued No Of Shares 0
Nominal value 0.00
EUR Paid Up 3,975,607.50
EUR
|
Other
relations |
position
|
ID |
|
Sav. Tzevelekis, Athanassios |
Chief Executive
Officer |
026177028 |
|
Ste. Gkonos, Dimitrios |
Member Of
the Board |
114227903 |
|
Leo. Konstantinidis, Stylianos |
General
Manager |
052396097 |
Shareholders
ID/Reg. No. Nationality Shares %
Leo. Konstantinidis, Stylianos 052396097
Unknown 0 4.9
Sav. Tzevelekis, Athanassios 026177028 Unknown
0 95.1
Activity
Code Description
109 Miscellaneous
metal ores
287 Manufacture
of other fabricated metal products
[33.20] Manufacture of instruments and appliances for
measuring, checking, testing, navigating and other purposes, except industrial
process control equipment
5187 Wholesale
of other machinery for use in industry, trade and navigation
Line of business
The company is involved in Manufacturing, exclusive imports and wholesale trade of natural gas network equipment.
KIND -
RELATION
Cast iron plumbing fixtures - Import, Trade
Precision, measurement & control appliances &
instruments - Import, Trade
Gas network supplies - Production, Import, Trade
Sells to
General Public
Export to
Bulgaria, Egypt, Macedonia, The Former Yugoslav Republic Of
Import from
China, Spain, Switzerland, Turkey
Banks Swift
code
PIRAEUS BANK S.A.
KILKIS, Greece 0172249
NATIONAL BANK OF GREECE S.A.
Kilkis, -, Greece 0110376
NATIONAL BANK OF GREECE S.A.
Thessaloniki, N. Thessalonikis, Greece 0110213
ALPHA BANK
KILKIS, Greece 0140880
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Affiliates and
Subsidiaries |
Country |
Relation |
|
PUBLIC
GAS CORPORATION OF GREECE (DEPA) S.A. |
Unknown |
Customer |
|
AIVAS |
Italy |
Trade Supplier |
|
ENI
SPA |
Italy |
Trade Supplier |
According to our against the subject no negatives have been registered.
Please note that the latest financial details were not available at the file of the company at the official companies' registry house; as the law provides for all companies. No financial details were available from other public sources.
CONCLUSION
G.E.MI.: 14491835000
Company was established in 1996 having a legal seat at Kilkis and is engaged in the trade of natural gas network equipment. Company’s first legal seat was at Thermi, Thessaloniki and in 1998 was transferred to the present one. In 2010 subject absorbed the production sector of the firm TOTGAZ S.A.
On 16/07/2012 the company filed its petition to court for
being brought under Pre-Bankruptcy Proceedings aiming its restructure, (
Article 99) of the Greek Bankruptcy Code. The Petition was accepted. In 2014
the company filed another petition to court .
However more information on the outcome is not available.
Please note that the information provided in this report was
obtained from official and publicly available sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.